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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Morgan Stanley Earnings Drop 1 comment
    Jan 17, 2014 11:19 AM | about stocks: MS

    Originally published at www.seclive.com

    Morgan Stanley (NYSE:MS) announced its financial results for the fourth fiscal quarter of 2013, reporting a decline in earnings. Earnings this quarter were $181M and $0.07 per share, down from $594M and $0.29 per share a year ago. The reason for such a disparity in earnings is partially explained by the $1.2B in legal fees related to the financial crisis. Excluding the one-time charges, earnings would have been $0.50 per share, beating analyst estimates of $0.45 per share. Morgan Stanley's wealth management and asset management businesses improved the company's performance, with wealth management improving 12% to $3.7B and asset management increasing 7% to $2B. Chairman and CEO James Gorman remarked that the company is addressing issues from the financial crisis but is pleased with the operational performance in fourth quarter.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: MS
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  • Pwdrskir
    , contributor
    Comments (135) | Send Message
     
    "Out with the bad, in with the good".

     

    I'm glad $MS has changed focus toward Investment Banking, something the world and $MS will profit from in the coming years.
    17 Jan, 11:38 AM Reply Like
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